My afternoon reads:

• Why the Founding Fathers Loved the National Debt (Echoes)
Capital Economics: Bull Market in Treasurys Far From Over (MarketBeat)
• Financial Stars Behind Bars? (Project Syndicate)
Fleckenstein: The Fed knows nothing: Who knew? (MSN Money)
• The Rise of the Permanent Temp Economy (Opinionator)
• Wall Street keeps an eye on Amazon’s sales tax hit (Yahoo News)
• Actual Facebook Graph Searches (Actual Facebook Graph Searches) see also Silicon Valley’s ‘Suicide Impulse’ (WSJ)
• Evan Williams’s Rule for Success: Do Less (Inc.)
• Apple CFO Jerry Seinfeld Addresses the Shareholders (The Bygone Bureau) see also Apple Is Stronger Than Ever (Slate)
• This Explains Everything: 192 Thinkers on the Most Elegant Theory of How the World Works (brain pickings)

What are you reading?


How Apple’s Fall Bit Bondholders, Too

Source: WSJ

Category: Financial Press

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

14 Responses to “10 Monday PM Reads”

  1. Jojo says:

    Here’s looking at you babe. ;)
    Discover magazine
    68. Two Spy Satellites Come in From the Cold
    A surprise gift to NASA raises eyebrows.

    January 24, 2013

    In June NASA announced that the National Reconnaissance Office (NRO), a secretive U.S. spy organization, had made the space agency a surprise gift: two satellite telescopes originally intended for orbital surveillance. The telescopes have mirrors the same size as the one on the Hubble Space Telescope but offer a field of view 100 times as wide. “You can look at thousands of different targets at the same time instead of one at a time,” notes NASA astrophysics director Paul Hertz. The quality of the telescopes’ optics also far exceeds that of Hubble, indicating that the spy agency employs telescope technology beyond what NASA has developed. And the satellites were built roughly a decade ago, spurring questions about what the NRO is capable of now–questions that are unlikely to be answered anytime soon.

  2. Jojo says:

    Opinionator – A Gathering of Opinion From Around the Web
    January 26, 2013
    The Rise of the Permanent Temp Economy

    Politicians across the political spectrum herald “job creation,” but frightfully few of them talk about what kinds of jobs are being created. Yet this clearly matters: According to the Census Bureau, one-third of adults who live in poverty are working but do not earn enough to support themselves and their families.

    A quarter of jobs in America pay below the federal poverty line for a family of four ($23,050). Not only are many jobs low-wage, they are also temporary and insecure. Over the last three years, the temp industry added more jobs in the United States than any other, according to the American Staffing Association, the trade group representing temp recruitment agencies, outsourcing specialists and the like.

    Low-wage, temporary jobs have become so widespread that they threaten to become the norm. But for some reason this isn’t causing a scandal. At least in the business press, we are more likely to hear plaudits for “lean and mean” companies than angst about the changing nature of work for ordinary Americans.

    How did we arrive at this state of affairs?

  3. Born Again says:

    JPMorgan: Dow 20,000 may be 4 years away.

    I’m selling!

    “The Dow Jones Industrial Average (Dow Jones Global Indexes: .DJI) could peak as high as 20,000 four years from now, JPMorgan Chief U.S. Equity Strategist Thomas Lee told CNBC on Monday. He predicted “2,400 [or] 2,500″ as the top for the S&P 500 Index (^GSPC) in a similar time frame.”

  4. ConscienceofaConservative says:

    Not sure what to make of this, in light of all the other frauds committed. Can you comment B.R.?
    Can this really be worse than MF Global, EPD mortgages and Abacus?

  5. bear_in_mind says:


    Check-out the latest from PBS’s NOVA:

    Rise of the Drones
    Drones. These unmanned flying robots–some as large as jumbo jets, others as small as birds–do things straight out of science fiction. Much of what it takes to get these robotic airplanes to fly, sense, and kill has remained secret. But now, with rare access to drone engineers and those who fly them for the U.S. military, NOVA reveals the amazing technologies that make drones so powerful as we see how a remotely-piloted drone strike looks and feels from inside the command center. From cameras that can capture every detail of an entire city at a glance to swarming robots that can make decisions on their own to giant air frames that can stay aloft for days on end, drones are changing our relationship to war, surveillance, and each other. And it’s just the beginning. Discover the cutting edge technologies that are propelling us toward a new chapter in aviation history as NOVA gets ready for “Rise of the Drones.”

  6. rd says:

    Interesting article about temps.

    A personal anecdote: My two kids entered the labor force over the past three years. Nobody was interviewing for regular jobs, so they each signed up with a couple of temp agencies. The way it ended up working for both of them was that the temp agencies initially placed them with a bunch of randome companies doing random short-term jobs. I assume the agencies got feedback from those employers that they were good workers because the quality of the opportunities and duration of the jobs increased.

    Then each of them got placed in a “rent to own” position where they were on a multi-week/month trial period where they ended up being emplyed full-time directly by the company after the allotted time had expired where the companies didn’t owe a finder’s fee (usually 3-6 months as a temp). Their current positions are with those companies with full benefits – one even is enrolled in an actual pension plan now.

    Many corporations and NGOs have essentially outsourced much of their HR function related to hiring to temp agencies by getting people on trial without having any paperwork headaches. They don’t have to go through any steps to get rid of a “hire” that isn’t working out – they simply call the temp agency and get a new warm body to try.

    i also know people who are hired as contract workers by organizations (including government regulators) that can’t add new staff people on a permanent basis. In some cases those people work for those companies for years. Generally these are companies that have a very difficult time getting rid of people for a variety of legal or policy reasons, so they essentially use consultants, contract workers, or long-term temp workers instead. Usually these companies offer very generous benefits packages that the non-permanent workers can’t take advantage of.

  7. willid3 says:

    there back!

    the overly optimistic media headlines about wall street,.

    must be the money


    BR: See this:

    Uh-Oh: NYT’s Front Page Cover Indicator

  8. JoJo y b_i_m,

    see some of..

    “1 million terabytes a day saved forever.

    The ARGUS array is made up of several cameras and other types of imaging systems. The output of the imaging system is used to create extremely large, 1.8GP high-resolution mosaic images and video.

    The U.S. Army, along with
    Boeing, has developed and is preparing to deploy a new unmanned aircraft
    called the “Hummingbird.” It’s is a VTOL-UAS (vertical take-off and
    landing unmanned aerial system). Three of them are being deployed to
    Afghanistan for a full year to survey and spy on Afghanistan from an
    altitude of 20,000 feet with the ability to scan 25 square miles of
    ground surface….”

  9. ilsm says:


    DoD has been using “temps” on “advisory and assistance services” contracts and federally funded R&D centers (FFRDC) for decades.

    In the mid 80′s I went from operating part of the DoD to the system buying business run by DoD “program offices” which used at once four types of employees: military, civil servants, A&AS and FFRDC doing the job in the office under control of the military officers.

    The A&AS and FFRDC make up a good part of the 300,000 contract “employees” that DoD pays under a big part of DoD’s $200B a year in services contracts. Which could be reduced to save money.

    The A&AS employees were supposed to be temp, but in my experience they were the stability in the office so the military and civil servants could move on and get promotions, diverse experience, get away from the blunders, etc.

    One of the main organizational reasons the DoD procurement system is a mess.

  10. from..
    • Why the Founding Fathers Loved the National Debt (Echoes)
    (William Hogeland’s most recent book is “Founding Finance: How Debt, Speculation, Foreclosures, Protests, and Crackdowns Made Us a Nation.” The opinions expressed are his own.)

    Read more from Echoes online. (“Echoes”, it only sounds like the Real Thing..)

    To contact the writer of this post: William Hogeland at

    To contact the editor responsible for this post: Timothy Lavin at

    nice to see they skipped (as the most obvious example..)

    (the QOTD, afterall..)

    “I sincerely believe, with you, that banking establishments are more dangerous than standing armies; and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale.”

    -Thomas Jefferson (letter to John Taylor in 1816)

    further, while making sure to mention Madison’s “Federalist No. 10″, they were, quite, quick to miss..
    and/or (an Index)

    yes, Indeed, All, written by participants of ‘Shay’s Rebellion’..hardly.

    little wonder that Hogeland’s Tract found airspace under Bloomberg’s imprimatur..

    refreshing to see that some people will, still, write Anything, in exchange for a Paycheck. Restores one’s Faith in Revisionist *History..

    “…Historical revisionism is conducted to influence a target’s ideology and/or politics for a particular purpose. Revisionists understand Plato’s dictum that, “those who tell the stories also hold the power.”[7] Sometimes the purpose is as innocent as wanting to sell more books or attract attention with a startling headline.[8] Often, however, that purpose is to achieve a nation’s aims by transferring war guilt, demonizing an enemy, providing an illusion of victory, or preserving friendship.[9] James McPherson, President of the American Historical Association in 2003, wrote that some would want revisionist history understood as, “a consciously falsified or distorted interpretation of the past to serve partisan or ideological purposes in the present.”[10] Broadly understood, there are two motivations behind revisionist history: the ability to control ideological influence and to control political influence…”


    see the Gap, between this Article..

    “Oakland, California, the fifth-most crime ridden city in America, faced a $32 million budget deficit in fiscal 2011. It closed the gap by shrinking its police force by 18 percent, shedding 138 officers including 80 dismissals…”

    “…“If someone calls 911, you’re looking at an indeterminate amount of time before an officer can respond,” says Barry Donelan, 40, a sergeant who is president of the Oakland police union. “Citizens are suffering.” Reversing a renewed rise in violent crime is out of the question, he says…”

    and this ‘Stance’..

    Are We to believe that criminals will give up their guns, as well? Maybe Timothy will ‘edit’ that Story, too?

  11. mathman says:

    Environmentalists squashed:

    CLDC coordinated twenty-nine individuals and organizations named in a civil lawsuit filed by the notorious Canadian pipeline company, TransCanada, agreed under duress today to settle, under threat of expansive injunction terms. The far-reaching Strategic Lawsuit Against Public Participation (SLAPP) was filed on the heels of record numbers of non-violent protests in Texas opposing the controversial XL Pipeline construction.

    A SLAPP is a lawsuit that is intended to censor, intimidate and silence critics by burdening them with the cost of a legal defense until they abandon their criticism or opposition. In this case, named defendants, Tar Sands Blockade, Rising Tide North America and Rising Tide North Texas agreed to settle the unconscionable SLAPP suit filed against them by a profiteering multinational Canadian corporation.

    Under threat of far more draconian injunction terms, the parties signed a settlement that enjoins those parties from trespassing or causing damage to Keystone XL property including the easements within private property boundaries, often acquired by TransCanada by taking advantage of impoverished property owners within the States of Texas and Oklahoma.

    “This is a David versus Goliath situation, where an unethical, transnational corporation is using its weight to crush First Amendment rights of people speaking out and resisting the irreparable destruction that will result from construction of this highly controversial XL Pipeline.” said Lauren Regan, veteran attorney with the Civil Liberties Defense Center (CLDC) who coordinates legal representation for the grassroots network of activists subject to the lawsuit. “But the resistance to the pipeline is growing, not shrinking; it’s coming from everywhere. This is a national and global issue that will effect us all.”

    disaster capitalism wins again!

  12. Greg0658 says:

    disaster capitalism wins again .. not yet – hopefully it runs – does it job – gets removed and sent to the recyle center

    signed in to hit the point why capital creation always has the upper hand .. ie:
    ~ other peoples money
    ~ private profits and public losses
    ~ last but not least – the underdog funds both sides in these things .. if you drive a car you fund the fight

    cash trumps labor until labor quits or fights .. then alas cash wins again